Vietnam’s first electrolytic aluminium project has reached another major milestone, with the second phase of the 450,000-tonne-per-year (tpa) Da Nong project producing its first batch of molten primary aluminium on October 31, 2026. The milestone, achieved by China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC), which is the project’s general contractor, came four months and three days ahead of the contractual schedule, officially moving the second phase from construction to trial production. The latest development builds on the progress made during the first phase, which produced its first batch of molten primary aluminium on July 14. By September 15, all electrolytic cells in the first phase had successfully started producing aluminium. The second...
The London Metal Exchange (LME) aluminium price graph dipped across the pricing and contract segments on the November 2 trading session, reporting declines over the October 30 close . The Asian Reference Price and alumina Platts price, on the other hand, reported nearly 1 per cent gains. The LME aluminium cash bid price dipped by 0.63 per cent from USD 3,113.5 per tonne to USD 3,094 per tonne. The offer price moved from USD 3,114 per tonne to USD 3,095 per tonne, down 0.61 per cent day-on-day. Explore: Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid advanced from USD 3,078 per tonne from USD 3,059.5 per tonne, decreasing by 0.6 per cent. The offer...
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SMM aluminium ingot price performed higher this week. The week started with an increase of RMB 210 per tonne and RMB 100 per tonne on Monday and Tuesday to RMB 19060 per tonne and RMB 19160 per tonne. The price then dropped to RMB 19140 per tonne, down RMB 20 per tonne on Wednesday. Aluminium price stood higher by RMB 130 per tonne on Friday, 16 July 2021 to RMB 19410 per tonne. The price is expected to move within a range of RMB 19390-19430 per tonne. According to the Shanghai Metals Market, China’s primary aluminium inventories continue to fall this week by 26,000 tonnes across eight major consumption areas, including SHFE warrants. Therefore, as of Thursday, July 15, China’s primary aluminium inventories have come in at 832,000 tonnes compared to 858,000 tonnes on July 8. The alumina...
LME aluminium cash (bid) price and LME official settle price increased this week during July 12-16 by US$ 44 per tonne or 1.80 per cent despite two consecutive declines at the end of the week. The prices opened the week on Monday, July 12, at US$ 2,449 per tonne, decreasing by US$ 21 per tonne from the previous day. On Tuesday, July 13, both LME aluminium cash (bid) price and LME official settle price rebounded to US$ 2,478 per tonne and further rose to US$ 2,509 per tonne on Wednesday, July 14. On Thursday, however, the prices dropped to US$ 2,495 per tonne and further inched down to US$ 2,493 per tonne on Friday, July 16. On the other hand, 3-months bid price and 3-months offer price reduced this week from US$ 2,468.50 per tonne on July 12 to US$ 2,510.50 per tonne on July 16. On...
The UAE based sovereign wealth fund Mubadala Investment Company is aiming at a value excess of $20 billion comprising debt for Emirates Global Aluminium PJSC as it moves closer to listing the business, according to an industry expert. The industry expert also added that Mubadala Investment has urged banks to onset pitching for roles on an initial public offering of EGA. Khaldoon Khalifa Al Mubarak, CEO and Managing Director of Mubadala Investment stated in April that the company was very near to going public, having seen a previous plan to do so postpone in 2018 after then-U.S. President Donald Trump imposed tariffs on aluminium imports from the United Arab Emirates. As per our information, Goldman Sachs, Bank of America Corp. and JPMorgan Chase & Co. worked on the plans for the earlier...
Rusal, a leading global aluminium producer, has announced the appointment of Irina Bakhtina as the Director of Sustainable Development. She will focus on the further implementation of Rusal’s sustainable development strategy across all divisions of the company and also work on the Group’s wider climate strategy aimed at achieving carbon neutrality by 2050. Earlier, Irina Bakhtina served as Deputy Prime Minister of the Komi Republic. She was responsible for the socio-economic development and the formation of investment and innovation policy in the region, including the Arctic zone of Russia. She also worked for the implementation of a unified state policy in the republic in the field of industrial and transport development, as well as environmental protection and safety. Irina Bakhtina is...
On Friday, July 16, Alcoa Corporation reported the highest profitability since inception in 2016 with record quarterly net income and earnings per share, attributing to strong aluminium pricing with improved customer demand, stable operational performance, and additional cash generation through strategic action. The company’s Q2 2021 net income, ended on June 30, stood at US$ 309 million, up 76.57 per cent quarter-on-quarter from US$ 175 million and 56.85 per cent year-on-year from US$ 197 million. Adjusted EBITDA excluding special items increased 18.62 per cent sequentially to US$618 million from US$ 521 million. On a year-on-year calculation, it stood up by 234 per cent from US$ 185 million. Earnings per share grew quarter-on-quarter from US$ 0.79 to US$ 1.49. Revenue edged 31.89 per...
Vedanta has continued to raise its aluminium products price. With effect from Thursday, July 15 2021, the prices of some aluminium ingots have come in at INR 218,500-231,500 per tonne, up by INR 2,750 per tonne or 1.27% from INR 215,750-228,750 per tonne on July 14. The billets price stands at INR 226,500 per tonne on Thursday, July 15 2021, reflecting a growth of increase of INR 2,750 per tonne from INR 223,750 per tonne on July 14. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stood at US$ 2495 per tonne on July 15 from US$ 2509 per tonne on July 14. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a stake in Bharat...
Three-month LME aluminium fell 0.24% on Thursday, July 15, 2021. The price closed at US$2,511 per tonne on Thursday. As of Thursday July 15, LME aluminium cash (bid) price stands at US$ 2495 per tonne, LME official settlement price stands at US$ 2495 per tonne; 3-months bid price stands at US$ 2510.50per tonne, 3-months offer price is US$ 2510.50per tonne; Dec 22 bid price stands at US$ 2494 per tonne, and Dec 22 offer price stands at US$ 2494 per tonne. The LME aluminium opening stock stood at 1465775 tonnes. Live Warrants totalled 897275 tonnes and Cancelled Warrants were 568500 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2529.60 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 3015 per tonne on Friday, July...
'Metalworld', the flagship magazine of a leading media business house in the Asian metallurgical domain, produces B2B trade shows on a regular basis for more than two decades. The conferences are for various verticals like aluminium, foundry, special steels, sponge iron, which are well appreciated and participated by the industry. 'Indian Aluminium Summit', the apex event on the Aluminium sector will cover the whole supply and process chain, present industry situation in the Indian context, emerging applications and markets, Industry 4.0 based manufacturing, as well as the recycling trends in the industry. It will also discuss and debate the prime issues facing this important industry sector, especially in the backdrop of the Covid pandemic. 'Al Circle' is the Media Partner of the event...
According to the Shanghai Metals Market, China’s primary aluminium inventories continue to fall this week by 26,000 tonnes across eight major consumption areas, including SHFE warrants. Therefore, as of Thursday, July 15, China’s primary aluminium inventories have come in at 832,000 tonnes compared to 858,000 tonnes on July 8. The chart below indicates the current status of primary aluminium inventories across China in more detail: In Wuxi, primary aluminium inventories have declined the highest by 13,000 tonnes to stand at 293,000 tonnes, followed by the decrease of 11,000 tonnes in Nanhai to come in at 224,000 tonnes, learned SMM. In Shanghai, Hangzhou, and Chongqing, inventories have dropped by 1,000 tonnes to settle at 86,000 tonnes, 90,000 tonnes, and 1,000 tonnes, respectively....
According to the data released by the National Bureau of Statistics (NBS), China’s primary aluminium output hit multi-year highs at 19.64 million tonnes in the first half of 2021. That was up by 10.1 per cent from a year ago, as smelters were encouraged by aluminium prices well above break-even levels. According to NBS records, China’s primary aluminium production increased the highest in H1 2021 since at least 2015. However, the production volume in June fell for a second straight month due to power limitation in the smelting hub of Yunnan, showed official data on Thursday, July 15. Smelters in Yunnan were ordered to reduce energy consumption in late May after severe drought hampered electricity generation. The curbs remained in place for much of June, and analysts say it could take...
National Aluminium Company Limited (NALCO) has decreased its aluminium ingot and aluminium products prices, following a hike last week, June 7. With effect from Wednesday, July 14, NALCO’s aluminium ingot price has come in at INR 214,050-217,550 per tonne, down by INR 3,700 per tonne or 1.7 per cent from INR 217,750-221,250 per tonne on July 7. NALCO’s aluminium wire rod price has also seen a cut of INR 3,700 per tonne to INR 217,550-221,900 per tonne, with effect from July 14. Since July 7, the price hovered around 221,250- 225,600, gaining INR 4,900 per tonne. NALCO’s aluminium billets price is at present ranging between INR 217,500-220,150 per tonne, compared to INR 221,200-223,850 per tonne last week. NALCO, like any other Indian aluminium producer, links its aluminium ingot and...
SMM aluminium ingot price marked a hike of RMB 140 per tonne. The price stood at RMB 19280 per tonne on Thursday, July 15, 2021, from RMB 19140 per tonne on July 14. The price is expected to move within a range of RMB 19260-19300 per tonne today. In Foshan and Wuxi, the price rose by RMB 150 per tonne each to stand at RMB 19320 per tonne and RMB 19280 per tonne on Thursday, July 15, 2021. Aluminium prices in Hangzhou and Chongqing stood at RMB 19285 per tonne and 19230 per tonne, up RMB 135 per tonne and 140 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi increased to stand at RMB 19195 per tonne, RMB 19210 per tonne, RMB 19230 per tonne, and RMB 19130 per tonne on Thursday, July 15, 2021. The aluminium alloy (ADC12) price increased by RMB 100 per tonne to RMB...
The Cameroonian aluminium producer ALUCAM on 13th July 2021 puts suspension on its declared around 8% price rise which was effective from 12th July 2021. The aluminium company did not come up with any clarifications; expect it stipulated that the cause of suspension remains in the hands of internal administration. While as per our country sources, the suspension on the price hike was due to compulsion exercised by the government, through the Ministry of Trade, which is against the price hike for the moment. ALUCAM professed to its customers that the price hike was due to the surge in prices of the raw materials and the additional costs induced in regards to logistics chain disruptions caused by the Covid-19 pandemic. The price rise suspension prevents the speculation fears, which would...
Three-month LME aluminium fell 0.36 per cent to close at US$ 2,517 per tonne on Wednesday. It is expected that the contract will trade between US$ 2,480-2,550 per tonne today. LME aluminium cash (bid) price and LME official settlement price grew further by US$ 31 per tonne or 1.25 per cent to stand at US$ 2,509 per tonne on Wednesday, July 14. 3-months bid price and 3-months offer price increased by US$ 34 per tonne from US$ 2,492.50 per tonne to US$ 2,526.50 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2,506.50 per tonne against US$ 2,476 per tonne. LME aluminium opening stock reduced from 1480150 tonnes to 1472800 tonnes. Live Warrants totalled 897275 tonnes, while Cancelled Warrants closed at 575525 tonnes. Meanwhile, LME aluminium 3-months Asian Reference Price...
On 14th July 2021, the largest aluminium and aluminium alloy producer of Romania, Alro Slatina received a €34 million financing facility from EximBank, a state-owned lender. Exim Bank is the Export-Import Bank of Romania based in Bucharest. Alro said in a statement filed with the Bucharest Stock Exchange, BVB that the funds disbursed are purposeful to deliver the requisite liquidity for the operations of the company and were sanctioned with a state guarantee provided under the Covid-19 state aid scheme dedicated to large companies. Alro Slatina, a subsidiary of Vimetco N.V. is one of the largest vertically integrated aluminium producers in Europe, having an installed production capacity of 265,000 tonnes per annum of electrolytic aluminium, 35,000 tonnes per annum of recycled aluminium...
On Wednesday, July 14, Vedanta reported that its aluminium production totalled 549,000 tonnes in the first quarter of FY2022 ended on June 30, 2021. That was an increase of 17 per cent from 469,000 tonnes in Q1 FY2021. As per the report released by the Company, the cast metal aluminium production (including trial run) at its smelters in Jharsuguda and BALCO increased due to ramp-up of pots. On a quarter-on-quarter basis, the production was higher by 3 per cent, said Vedanta in a statement. On a consolidated basis, Vedanta reported a net profit of INR 7,629 crore for the quarter ended on March 31, 2021, as compared to a net loss of INR 12,083 crore a year ago. Net sales increased by 42.8 per cent year-on-year to INR 27,874 crore during the quarter, primarily due to higher volume at...
Rio Tinto has joined the Australian Industry Energy Transition Initiative (ETI) to reduce emissions in hard-to-abate sectors. The Australian Renewable Energy Agency (ARENA) has also awarded $2 million grant to the initiative. The initiative aims to reduce emissions in ‘hard-to-abate’ sectors, such as iron and steel; aluminium; LNG; other metals, including copper, nickel, lithium; and chemicals, such as fertilisers and explosives. \ Rio Tinto Australia chief executive Kellie Parker said, “To decarbonise our operations and supply chains, and meet our climate goals, we will need to continue to partner with a wide range of stakeholders, including industry, finance and government.” “With large operations on both sides of the country, we support the aims of the Australian Industry ETI and hope...
Vedanta has hiked its aluminium products price by more than 1%. With effect from Wednesday, July 14 2021, the prices of some aluminium ingots have increased by INR 2,500 per tonne to stand at INR 215,750-228,750 per tonne, from INR 213,250-226,250- per tonne on July 13. The billets price stands at INR 223,750 per tonne on Wednesday, July 14 2021. That was an increase of INR 2,500 per tonne from INR 221,250 per tonne on July 13. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stood at US$ 2478 per tonne on July 13, from US$ 2449 per tonne on July 12. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a stake in Bharat...
